DERO: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DERO
Largest movements
- Tangible fixed assets +€31,802
up €31,802 (+5.0%), from €636,669 to €668,471
of which Plant, machinery and equipment: +€31,947
- Cash -€29,497
down €29,497 (-34.2%), from €86,328 to €56,832
mainly Investment in fixed assets (net) (-€121,838) and Debts after one year (-€41,740)
- Profit (loss) carried forward +€47,522
up €47,522 (+33.1%), from €143,713 to €191,236
- Debts after one year -€41,740
down €41,740 (-9.1%), from €460,629 to €418,889
- Other debts +€13,591
up €13,591 (+2,486%), from €547 to €14,138
- Tax, wage and social debts -€10,901
down €10,901 (-21.9%), from €49,791 to €38,891
of which Remuneration and social security: -€7,672
- Trade debts -€7,449
down €7,449 (-22.2%), from €33,581 to €26,133
- Gross operating margin +€55,311
up €55,311 (+22.0%), from €251,907 to €307,218
- Depreciation +€55,193
up €55,193 (+158%), from €34,844 to €90,037
- Financial charges +€10,320
up €10,320 (+107%), from €9,610 to €19,930
of which Financial charges: +€10,130
- Taxes +€10,256
up €10,256 (+1,472%), from €697 to €10,953
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €738,438 | €741,026 | +€2,588 | +0.4% |
| Fixed assets | 21/28 | €636,669 | €668,471 | +€31,802 | +5.0% |
| Tangible fixed assets | 22/27 | €636,669 | €668,471 | +€31,802 | +5.0% |
| Plant, machinery and equipment | 23 | €636,464 | €668,411 | +€31,947 | +5.0% |
| Furniture and vehicles | 24 | €206 | €60 | -€146 | -70.9% |
| Current assets | 29/58 | €101,769 | €72,555 | -€29,213 | -28.7% |
| Stocks and contracts in progress | 3 | €13,257 | €15,534 | +€2,277 | +17.2% |
| Stocks | 30/36 | €13,257 | €15,534 | +€2,277 | +17.2% |
| Amounts receivable within one year | 40/41 | €2,184 | €190 | -€1,993 | -91.3% |
| Trade receivables | 40 | - | €187 | +€187 | |
| Other amounts receivable | 41 | €2,184 | €4 | -€2,180 | -99.8% |
| Cash at bank and in hand | 54/58 | €86,328 | €56,832 | -€29,497 | -34.2% |
| Total equity and liabilities | 10/49 | €738,438 | €741,026 | +€2,588 | +0.4% |
| Equity | 10/15 | €153,713 | €201,236 | +€47,522 | +30.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €143,713 | €191,236 | +€47,522 | +33.1% |
| Amounts payable | 17/49 | €584,724 | €539,791 | -€44,934 | -7.7% |
| Amounts payable after more than one year | 17 | €460,629 | €418,889 | -€41,740 | -9.1% |
| Financial debts | 170/4 | €460,629 | €418,889 | -€41,740 | -9.1% |
| Amounts payable within one year | 42/48 | €124,096 | €120,902 | -€3,194 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €40,176 | €41,740 | +€1,564 | +3.9% |
| Trade debts | 44 | €33,581 | €26,133 | -€7,449 | -22.2% |
| Suppliers | 440/4 | €33,581 | €26,133 | -€7,449 | -22.2% |
| Taxes, remuneration and social security | 45 | €49,791 | €38,891 | -€10,901 | -21.9% |
| Taxes | 450/3 | €19,642 | €16,413 | -€3,228 | -16.4% |
| Remuneration and social security | 454/9 | €30,150 | €22,477 | -€7,672 | -25.4% |
| Other amounts payable | 47/48 | €547 | €14,138 | +€13,591 | +2,486% |
| Remuneration, social security and pensions | 62 | €139,619 | €137,943 | -€1,677 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,844 | €90,037 | +€55,193 | +158% |
| Other operating charges | 640/8 | €2,342 | €839 | -€1,503 | -64.2% |
| Gross operating margin | 9900 | €251,907 | €307,218 | +€55,311 | +22.0% |
| Operating profit (loss) | 9901 | €75,102 | €78,400 | +€3,298 | +4.4% |
| Financial income | 75/76B | €772 | €6 | -€766 | -99.2% |
| Recurring financial income | 75 | €772 | €6 | -€766 | -99.2% |
| Non-recurring financial income | 76B | €772 | €6 | -€766 | -99.2% |
| Financial charges | 65/66B | €9,610 | €19,930 | +€10,320 | +107% |
| Recurring financial charges | 65 | €9,610 | €19,740 | +€10,130 | +105% |
| Non-recurring financial charges | 66B | - | €190 | +€190 | |
| Profit (loss) for the period before taxes | 9903 | €66,264 | €58,475 | -€7,789 | -11.8% |
| Income taxes | 67/77 | €697 | €10,953 | +€10,256 | +1,472% |
| Profit (loss) for the period | 9904 | €65,568 | €47,522 | -€18,045 | -27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €65,568 | €47,522 | -€18,045 | -27.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.